Truckload carrier Marten Transport reported 2013 was the best financial year in its history, but fourth-quarter income declined.
Fourth-quarter net income dropped to $7.3 million, or 22 cents per share, from $7.7 million, or 23 cents per share, from the same time last year.
For the year ended Dec. 31, profit rose 10.6% to $30.1 million, or 90 cents per diluted share.
Operating revenue in the fourth quarter from truckload and logistics operations dipped to $166.2 million from $166.4 million the previous year, Marten said. Its full-year operating revenue increased 3.3% to $659.2 million.
"We are pleased to announce our highest net income for any year in our history. These results were earned in a challenging rate environment with significant industry headwinds including higher equipment and maintenance costs, pay inflation to drivers within a contracting driver market and revised hours-of -service regulations," Randolph Marten, chairman and CEO, said in a statement."
